Huntington Bancshares Inc. entered into a definitive agreement to acquire Cadence Bank to expand its presence in Texas and throughout several southern states, according to a press release.
Cadence Bank is a $53 billion regional bank headquartered in Houston and Tupelo, Miss., with more than 390 locations across Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee and Texas.
Huntington said it intends to maintain and grow Cadence’s branch network with no branch closures planned.
“This is an important next phase of growth for Huntington,” Huntington Chairman, President and CEO Steve Steinour said in the release. “This partnership will extend the reach of our full franchise to 21 states – stretching from the Midwest to the South to Texas – and into new, high-growth markets for which we have a powerful playbook. Today’s announcement represents a significant step on our journey to be the leading people-first, customer-centered bank in the country.”
Upon completion, Huntington will have a strategic presence in 12 of the top 25 metropolitan statistical areas (MSAs) in the country, including six of the top 10 fastest growing MSAs.
In conjunction with its recently completed acquisition of Veritex Community Bank, Huntington will have the fifth largest deposit market share in Dallas, the fifth deposit market share in Houston and the eighth deposit market share across the state of Texas upon completion of its acquisition of Cadence. Huntington will also become the top bank in Mississippi and a top 10 bank in both Alabama and Arkansas by deposits, according to the release.
“We’ve been delivering for our customers and communities for 150 years, and partnering with Huntington will help us do even more to support those we serve,” Cadence Bank Chairman and Chief Executive Officer James Rollins III said in the release. “This is a defining moment for Cadence Bank and we’re confident this alignment will create lasting value across our footprint and beyond. Together, we will continue to prioritize relationship-first banking while unlocking new opportunities for growth and innovation.”
Once the transaction is completed, Rollins will join Huntington as non-executive vice chairman of Huntington’s board of directors, as well as a director of Huntington Bancshares Inc. and Huntington National Bank. Huntington Bancshares plans to invite two additional members from Cadence to join its board of directors.
“Cadence Bank’s relationship-first, community-based approach to banking aligns very well with our values and local approach to banking,” Huntington President of Consumer and Regional Banking Brant Standridge said. “We’re excited to bring our broad range of capabilities, products and services to Cadence’s customers and communities through local bankers, local decision making, local relationships and local community engagement and investment.”
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals, approval by Huntington and Cadence shareholders and other customary closing conditions. Cadence Bank teams and branches are expected to begin to operate under the Huntington Bank name and brand in the second quarter of 2026.